tag:www.watsonlawpeoria.com,2013-03-21:/blog/825292019-09-06T03:06:34ZMovable Type Enterprisetag:www.watsonlawpeoria.com,2019:/blog//82529.38243922019-09-06T03:07:33Z2019-09-06T03:06:34Z
A previous post on this blog talked about how, in reality, it was a rather amazing thing that the divorce of two well-known real estate moguls ended with an out-of-court settlement. The reason this was remarkable is that investment real estate, especially when the property is used for commerce, is difficult to put a precise value on. Beyond just the possible sale price, one has to also consider whether and to what extent the property can bring in rental income.

Getting an estimate on the value of investment property often takes the help of a qualified expert who may have to testify in court. Moreover, because the stakes are high, one side may find fault with the other side's estimate of a property's value and may offer his or her own estimate.The complexity of this type of property division is only compounded when a couple has more than one property, and it is even more difficult if, for example, one of the parties own some of the real estate prior to the marriage.

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Our law office can help clients in the Peoria area navigate through the complicate process of dividing up their investment real estate, real estate which could include business property, rentals or even a vacation home like a lake college.

Whether our clients choose to negotiate or head to court, we know how to come up with reliable estimates for the value of each property and document those with reliable evidence and expert testimony.

On a more practical level, we also can make sure that our clients only accept ownership of real estate that will actually serve their interests. Not all pieces of property are necessarily good investments long term, and the buying and selling of real estate post-divorce also may have tax consequences.

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tag:www.watsonlawpeoria.com,2019:/blog//82529.38180112019-08-27T23:01:34Z2019-08-27T23:00:34Z
If you ask anyone who has been through a divorce, they will tell you that it's important to learn all you can about the process and prepare in advance. What this means is that you do not want that divorce filing to be a surprise. You want to see it on the horizon and get yourself in the best possible position for your future.

With that goal in mind, here are some red flags to look out for that could mean your marriage will end:

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1. You don't communicate well

The key to marriage is, in many ways, communication. When it breaks down or when you could never do it well in the first place, it undermines your relationships. If you feel like your partner ignores you or refuses to talk when you need to talk, it shows that the relationship could be on the rocks, even when everything else appears to be going well.

2. Your spouse struggles with addiction

Addiction is common in the United States, whether it revolves around alcohol, tobacco, illegal drugs, painkillers, gambling, shopping or something else entirely. The problem with an addiction is that it takes over a person's life. They put it ahead of everything else, even unintentionally. If your spouse struggles with addiction and makes you the No. 2 in their life, the marriage may not last long.

3. Work takes up too much time

We often feel like work should be the main priority in our lives. While it is important, some people take this too far and it becomes the only thing that they think about and the only thing that they care about. If your spouse is a workaholic, you may simply never see each other or spend time together. Nothing breaks down a marriage faster than distance, even when you still live in the same house.

4. Your roles are not equal

You and your spouse can have different roles in the marriage, but an extreme level of inequality can become toxic. If you feel like you only give and give to the marriage, but your spouse never gives you anything in return, it can lead you to end the marriage and seek a more supportive relationship.

5. You keep secrets from each other

Do you ever feel like your spouse has secrets? Maybe they won't let you use their computer. Maybe they won't tell you who texted them when you see them using their phone. Depending on the nature of those secrets, when the truth comes out, it could end the marriage.

Your options

Every marriage is different, but this gives you some idea of the red flags you need to watch out for. If you do end up getting a divorce, you need to know what legal options you have.

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tag:www.watsonlawpeoria.com,2019:/blog//82529.38147452019-08-22T15:05:26Z2019-08-22T15:04:26Z
As this blog has discussed on previous occasions, many Illinois parents make their living through self-employment. For instance, many service professionals and consultants from a range of industries are in business for themselves and make their money by selling their goods or services directly to customers.

These people, of course, still have an obligation to pay child support in proportion to their income and according to Illinois law. Unfortunately, though, collecting support from a Peoria resident who is self-employed isn't always as simple as garnishing a paycheck. Sadly, some parents may even use their status as self-employed to try to hide their money or otherwise avoid meeting their obligations to their children.

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Is in all cases where a parent is refusing to pay child support, the other parent may ask the court to hold the delinquent parent in contempt of court. Upon finding a parent in contempt, the court can put the parent in jail or fine him or her until such time as he or she pays support.

However, when it comes to self-employed parents, courts have additional powers. For instance, the court can order the parent to provide detailed financial statements each month regarding the performance of his or her business. Moreover, if the parent's business is not bringing in enough income to pay support, then the court can also require the parent to look for other employment.

Finally, a court also has some authority to examine the assets of a parent's business to see if any items can be taken and used to pay off the parent's support debt. When doing so, the court is free to set aside certain transactions that seem to be part of an effort to dodge child support payments.

Dealing with a parent who is using his or her status as self-employed to avoid child support is frustrating, but there legal tools available for doing so.

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tag:www.watsonlawpeoria.com,2019:/blog//82529.38079352019-08-08T20:00:25Z2019-08-08T19:59:25Z
With school starting up again soon, early August may be a great time for Peoria, parents who are subject to an allocation of parental responsibilities order to review that order. They can also re-acquaint themselves with what Illinois law says about custody, decision-making and parenting time when it comes to school.

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Whether agreed to or imposed by the court, a parenting plan should set out decision-making authority about a child's education. One parent, or perhaps both parents, will have the right to choose where he or she wants a child to attend school, what additional activities the child will be involved in and the like.

If both parents have this authority, the parenting plan will also likely have provisions about what the couple must do if they cannot get along about these sorts of decisions. Likewise, an Illinois parenting plan must also have a provision in it that allows both parents, no matter who has what decision-making authority, to access and review school records for their children.

Some parents may discover in the course of reviewing and thinking about their parenting plan that they need to take some additional steps. For example, in some cases, they may need to enforce the parenting plan's provisions when it comes to education. In other cases, they may wish to make a change in the plan so as to ensure the best education possible for their children. A skilled family law attorney can assist with these additional steps.

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tag:www.watsonlawpeoria.com,2019:/blog//82529.37971162019-07-25T14:25:46Z2019-07-25T14:24:46Z
There are reasons why many people in the Peoria area may not want to go through the process of a ending a marriage even though they recognize the need to live separately from their spouses. For some people, moral or religious convictions make them reluctant to divorce, while in other cases, financial considerations, the good of their children or even personal emotional concerns may be paramount.

In still other cases, an Illinois couple may opt for a legal separation because they do not need to establish residency in this state or undergo a waiting period before getting one. A couple will, however, actually have to be living separately at the time the request for legal separation is filed.

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It is important to note a couple of points with respect to legal separations in Illinois. For one, as is the case generally, a legal separation does not end one's marriage. This means that the couple will not be able to re-marry while they remain legally separated.

On another point, a court hearing a legal separation will only handle the allocation of parental responsibilities, child support and spousal maintenance. The court will not decide issues regarding the division of property. On the other hand, if the couple can come to an agreement among themselves about how to divvy up martial property, the court is able to review and approve that agreement.

Going through a legal separation may be a viable option for many Illinois couples, although they should strongly consider discussing the option with their experienced family law attorneys before making any final decisions. Likewise, a family law attorney may be an important part of a person's team who will work together to secure his or her rights and protect his or her interests.

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tag:www.watsonlawpeoria.com,2019:/blog//82529.37880832019-07-11T15:39:17Z2019-07-11T15:38:17Z
Although some people may not realize it, single Illinois dads doing their best to raise their children are a fairly common occurrence. Across the country, there are roughly around 2 million single dads. This is according to relatively recent statistics from the government. In terms of percentages, this means that over 15% of all single parents in the nation are fathers.

Many of these dads have huge responsibilities on their plates. Almost 10% of these single dads had at least three minor children in their home. Moreover, the vast majority, 96%, were either divorced, separated or had never been married to their child's mother.

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Even among men who are not single parents, dads are frequently involved in their children's lives and exercise important influences over them. By estimates, there were over 200,000 stay-at-home fathers back in 2013, and that number has likely grown since that time.

Even among men who held jobs outside their homes, almost 1 out of 5 young children received care from their father while their mom went to work. Other studies suggest that when men are involved in their children's education, children perform better overall.

When it comes to the allocation of parental responsibilities, it seems clear from the available data that both parents should have the opportunity to form a relationship with their children and have a role in making important life decisions for them. Unfortunately, many men, and women as well, may find that the other parent is imposing obstacles which make it harder for them to get involved.

In these sorts of situations, a parent in the Peoria resident may need to get the assistance of an experienced family law attorney to help him advocate for his rights. This not only helps protect his rights but also puts the focus on the best interests of the child.

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tag:www.watsonlawpeoria.com,2019:/blog//82529.37830292019-07-04T00:51:35Z2019-07-04T00:50:35Z
Saving enough money for retirement is difficult enough without any unsuspected issues coming to light. If you decide to divorce, you can expect your retirement plans to change in some ways.

Your biggest concern will be your ability to retain enough money to keep the same retirement plan in place. This is why it's imperative to understand how to divide retirement assets in divorce, while protecting your rights at every turn.

Keep your own accounts: If you and your soon-to-be ex-spouse have nearly equal retirement savings, you may agree to keep your own account and leave well enough alone. Even if you're doing so, don't lose sight of other retirement assets you may have a right to, such as pensions.

Consider a transfer: If one spouse has more retirement savings than another, part of one person's account can be transferred to the other. This is completed with the help of a qualified domestic relations order (QDRO).

Negotiate with the type of account in mind: As you negotiate with the other party, such as in mediation, remember that not all retirement accounts are the same. For instance, the tax implications of a Roth IRA and 401(k) are entirely different. It's critical to focus on more than the value of the account. You must also know how it will affect you in the future.

Protect yourself: Depending on the circumstances of your divorce, you may assume that an informal agreement is okay. Instead of going down this path, make sure everything is in writing. You should never assume that your ex will live up to a verbal agreement in the future.

There's a lot to think about in regard to property division, with retirement accounts at the top of the list. Fighting for your rights during your divorce will benefit you in the long run, especially when it comes time to quit the workforce for good.

If you're faced with divorce and have questions or concerns about dividing retirement assets, take a step back to assess your situation and set reasonable goals. When you combine this with knowledge of your legal rights in Illinois, you'll feel more confident in the decisions you make.

Review our website and read our blog for more information on property division, debt division and related family law subjects.

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tag:www.watsonlawpeoria.com,2019:/blog//82529.37795752019-06-27T14:31:22Z2019-06-27T14:30:22Z
Many times, a Peoria couple will decide to negotiate an allocation of parental responsibilities, which will include child custody and parenting time, before going to court. Once they do so, they will need to file their parenting agreement with the court for approval.

An Illinois court will usually approve an agreement so long as it appears to be voluntary and that, when negotiating it, the couple put the best interests of their children first. Sometimes, negotiations about a parenting plan can be so informal that the couple works out their issues themselves. However, in most cases, the parties will use attorneys to help them with their negotiations.

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Sometimes, the negotiation will be more formal, such as in the case of collaborative law or family law mediation. Finally, Illinois parents should remember that, even in the final stages of litigation, negotiations will usually be allowed. One important aspect of coming to a parenting agreement is that each parent needs to remember to include, in clear detail, how the couple plans to handle all major parenting issues. Of course, these can vary from case to case.

However, most parenting agreements should address with whom the child will live primarily, when each parent will have the child and how the couple will handle major decisions about things like healthcare, religion and education. It is also a good idea for an agreement to address special occasions, like holidays, family celebrations and vacations. Finally, a good agreement will set out ground rules should the parents disagree down the road.

Peoria parents can resolve the allocation of parental responsibilities between them through an agreement, but they will likely want the advice of an experienced family law attorney when doing so. This can help ensure that parents are well informed of their options, and that they take the steps that are best for his or her situation.

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tag:www.watsonlawpeoria.com,2019:/blog//82529.37682152019-06-14T15:00:44Z2019-06-14T14:59:44Z
Many children in the Peoria area have special medical and educational needs. Any one of these needs, from asthma to a profound physical disability, can cost parents a lot in terms of both time and money.

In addition to medical and other bills, parents may also have to incur extra costs finding opportunities and activities for that their special needs children can enjoy.

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An Illinois court can consider these expenses in its child support calculations. This makes sense because, really, both parents should contribute to the support of their children's needs. Doing so would include paying extra for doctor's visits, other appoints and the like.

However, courts in Illinois will not automatically account for these expenses. Instead, as a rule, they will apply the Illinois Child Support Guidelines, which do not take in to account special needs automatically. In order to get this consideration, a parent of a special needs child will have to ask for a deviation from the Guidelines.

Getting a deviation from the Guidelines can be a complicated affair. For one, under the law, judges must always use the Guidelines as a starting point and need to have evidence before ordering a different amount of child support.

In order to get a deviation, a parent will need to present evidence that her child requires extra medical care for the child's health. In other words, the care cannot be medically optional. Likewise, a parent may also present documentation of her child's special needs when it comes to arguing for extra support to cover things like ongoing therapy or special activities.

Presenting this sort of evidence and doing so persuasively is not an easy task. This is why a Peoria parent may wish to consult with an experiencing attorney before trying to get extra child support because his child has special needs.

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tag:www.watsonlawpeoria.com,2019:/blog//82529.37550202019-05-31T16:33:07Z2019-05-31T16:32:07Z
It recently became public that the 12-year marriage between two people who are giants in the commercial real estate market in another state legally ended.

Both of the parties are well-connected to the world of big real estate deals, and they both have accomplished a lot in their own right. Each of them is likely worth tens of millions of dollars, as both have interests in sought-after commercial real estate in busy urban markets.

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The divorce between the two ended on a quiet note, with the couple requesting what in their state is called an uncontested proceeding. This means that the couple has negotiated between themselves, possibly with the help of a mediator, how they will divide their property. In other words, the public won't hear many of the details of their wealth and their business dealings. Presumably, the couple also worked out any issues involving child custody, parenting time and spousal and child support.

Just because the proceeding ended quietly for the couple does not mean the process was easy or simple. Indeed, trying put the correct value on commercial real estate, even in a market like Peoria, can be quite difficult and subject to a lot of contention. This is because many commercial properties are relatively unique and hard to compare.

Moreover, the real test of the value of a commercial property is how much rental income it can bring in as opposed to how much it would sell for on an open market. Predicting future income is a difficult task that often requires the help of an appraiser or other expert in commercial property.

Finally, the fact the couple was high-profile, at least in the world of real estate, likely only complicated negotiations between them further.

Particularly if they are well-known in the community, real estate investors and others with a lot of property interests are likely going to want the experience and knowledge of a dedicated family law attorney should they be faced with divorce or separation.

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tag:www.watsonlawpeoria.com,2019:/blog//82529.37375802019-05-17T13:39:31Z2019-05-17T13:38:31Z
In Illinois, courts are required to divide up a couple's marital property in the event of a divorce or separation. Basically, marital property is just about any asset, or debt, that either party either owns or owes.

This is so without regard to who purchased the asset, who legally owns it or who spent most of the time and energy caring for and maintaining it.

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However, Illinois law recognizes some property as non-marital property. Although the law lists a number of types of non-marital property, there are a couple of types that may be more likely to apply to the situations of Peoria couples.

For instance, property that one spouse receives as a gift or as part of inheritance is non-marital property. By way of example, this means that a woman who received $20,000 a year from her parents for her own needs could in theory claim that property outright in the event of a divorce; she will not have to submit those funds to property division.

Likewise, many assets which either spouse earned or received before his marriage will be treated as non-marital property. So, if a man owns a successful business prior to his marriage, he may be able to keep the value of his business.

Sorting out what is marital property can be complicated. Moreover, the stakes are high when there is a controversy about whether an asset is marital property, as the outcome could mean the difference between keeping the entire value of the asset or losing, say, about half of it. In such circumstances, it may be best to seek out the advice of an experienced Illinois family law attorney.

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tag:www.watsonlawpeoria.com,2019:/blog//82529.37302132019-05-09T01:21:37Z2019-05-09T01:20:37Z
If you are paying child support to your former partner, this is likely to be a significant strain on your finances. If your ex-spouse does not work, you may feel frustrated by what you might consider as a lack of effort on their part. It's likely that you will wonder about the options available to you regarding modifying the child support order.

It is possible to use income imputation to modify the child support order in certain circumstances. Income imputation is a way of using one parent's earning potential rather than their actual income to calculate the child support owed. This helps to incentivize both parents to fulfill their responsibilities to their children.

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Income imputation is only done in certain circumstances

Parents who have custody of their child all or most of the time would find it very difficult, if not impossible, to be employed full-time. Similarly, if a person has been actively looking for work but is not able to secure a job, they should not be held responsible for their lack of income. In these cases, it is likely that the courts would not impute income.

Income imputation is only carried out in circumstances in which a parent is choosing not to work when they have the skills and capabilities to do so. A parent who chooses to not work while benefiting from child support payments will likely have their income potential estimated by courts. This estimate will be applied to the child support calculations, and, as a result, their child support payments will be lowered.

The best interests of the child are always observed

The general premise behind the morality of income imputation on child support payments is that having maximally employed parents is in the child's best interests. The courts want to incentivize parents to seek employment so that they can fulfill their duties and provide for their children.

If you believe that the amount of child support you are paying is unfair given the other parent's earning potential, it is important to look into the ways in which the law could help you. The courts always seek to establish a fair ruling that will be for the benefit of the family as a whole.

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tag:www.watsonlawpeoria.com,2019:/blog//82529.37236102019-05-03T14:30:50Z2019-05-03T14:29:50Z
While figuring out child support is never an easy task, it is relatively simple when both parents work a traditional job and earn a paycheck. Especially if their paychecks are predictable, calculating child support is a matter of applying the Illinois Child Support Guidelines to each parent's salary.

However, when a Peoria, Illinois, parent works in her own business, her income might not be steady. For example, even a successful realtor who works hard may have months in which she sells several homes or buildings followed by months of making very little income.

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This makes figuring child support more difficult, as it would not be fair to base child support on either the lean months or on the one or two months in which business was exceptionally good.

Typically, a court will use the person's tax returns as a starting point. As is the case with taxes, courts will generally figure a parent's self-employment income by taking his revenue and subtracting his business expenses. The court will then average out the parent's annual income and divide it by 12 to get monthly income.

The complicated piece of this puzzle is that not everything that can be deducted from a self-employed parent's taxes will automatically also reduce her income for child support purposes. For instance, courts have some leeway to ignore business tax deductions for items like depreciation and for other deductions which might make child support unfairly low.

Likewise, if the parent receives certain benefits from the business, like the use of a car on the business's dime or some other perk, then the value of that benefit may count as income for child support purposes.

Figuring out a parent's income for child support purposes can be difficult when he earns a living via his own business. However, experienced family law attorneys can be of valuable assistance.

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tag:www.watsonlawpeoria.com,2019:/blog//82529.37113712019-04-19T14:34:10Z2019-04-19T14:33:10Z
The phrase right of first refusal means different things depending on what area of law one is discussing. In the world of family law, the right of first refusal refers to the option of one parent to watch a couple's children when the other parent needs child care.

The right of first refusal can be granted as part of an Illinois court's allocation of parental responsibilities order. Even though it is referred to as a right, first refusal is not automatic. The court has to decide that granting the right of first refusal is in the best interest of the children involved. While a court will still have to approve of their agreement, parents also have the option of negotiating how they will handle the right of first refusal between themselves.

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Courts in the Peoria area have considerable discretion, or leeway, to spell out the details of a parent's right of first refusal. For instance, the court can specify on what occasions a parent can exercise her right of first refusal.

By way of example, a court may not require one parent to call up the other parent if she has to go on a quick errand and needs the neighbor to watch her children for a few minutes.

On the other hand, the opportunity for extra parenting time may need to be offered if a father wishes to spend an evening out and will need child care.

Courts have discretion to work out other aspects of the right of first refusal as well. As such, a parent interested in having some extra time to be with his children may wish to discuss the right of first refusal with his family law attorney.

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tag:www.watsonlawpeoria.com,2019:/blog//82529.36948062019-04-05T19:36:24Z2019-04-05T19:35:24Z
There a lot of reasons why a doctor in the Peoria area may need to figure out how much her medical practice is worth, assuming of course that she is in business for herself. For example, she may wish to break off from her partners to take a new and better direction in her career, or she may have a hospital or larger practice interested in acquiring her patients and her expertise.

On perhaps a less happy note, the doctor may also be going through a divorce. In such cases, his medical practice will likely be subject to property division between his spouse and him. The judge will not necessarily give the doctor's spouse some share of the practice, but the judge will factor the value of the practice in to its overall fair division of assets.

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As is the case with other complex business assets, divvying up a medical practice can be difficult and complicated, particularly when there are no plans to sell the practice and the person doing the dividing is not a doctor or medical expert.

As such, the best advice for putting a value on a medical practice is to get an experienced family law attorney involved. Among other things, the attorney can identify and communicate with a suitable expert who can accurately and persuasively estimate the business's value.

Still, there are some general principles for a doctor to keep in mind should he need to put a value on his business. Perhaps the most important thing to remember is that putting a value on a medical practice is not just about counting revenues and accounts receivable or estimating the value of one's office and one's medical equipment.

Indeed, much of a medical practice's value comes from what are called intangible assets, and include things like customer goodwill, the doctor's reputation and the like. Such items must be considered, even though they are hard to estimate reliably.